Bankruptcy Law to Become Pillar of Industrial Stability: SAPM Haroon Akhtar Khan

1. : Who chaired the high-level meeting on Bankruptcy Law and prevention of undue harassment?
(A) Rana Ehsan Afzal
(B) Shehbaz Sharif
(C) Haroon Akhtar Khan
(D) Amjad Rashid

2. : What position does Haroon Akhtar Khan hold?
(A) Finance Minister
(B) Chairman of SECP
(C) Special Assistant to the Prime Minister on Industries and Production
(D) Governor State Bank

3. : Which act did the committee propose to amend to provide relief to struggling companies?
(A) Anti-Money Laundering Act, 2007
(B) Corporate Rehabilitation Act, 2018
(C) Income Tax Ordinance, 2001
(D) Companies Act, 2017

4. : What was one of the key proposed changes to the Corporate Rehabilitation Act, 2018?
(A) Increasing tax on bankrupt companies
(B) Banning foreign investment
(C) Removal of eligibility threshold based on receivables
(D) Mandating closure of sick units

5. : What relief is proposed for companies under SBP Circular No. 29?
(A) They will be taxed at a higher rate
(B) They will be excluded from benefits
(C) They will be included in rehabilitation provisions
(D) They will be shut down

6. : What challenge has delayed the Corporate Rehabilitation Board’s operations?
(A) No legal framework
(B) Natural disasters
(C) Stringent appointment criteria and budgetary constraints
(D) Public protests

7. : What was a recommendation of the sub-committee on undue institutional harassment?
(A) Reduce power supply to industries
(B) Protect SECP’s autonomy and promote a non-political environment
(C) Increase regulatory raids
(D) Suspend business licensing

8. : According to Haroon Akhtar Khan, what will the new bankruptcy law ensure?
(A) Corporate shutdowns
(B) Tax increases
(C) Industrial stability
(D) State authority over business operations

9. : Which stakeholders participated in the meeting?
(A) Only SECP and SBP
(B) Politicians only
(C) SECP, FBR, SBP, business councils, and other authorities
(D) Military officials

10. : What vision did Prime Minister Shehbaz Sharif emphasize, according to the meeting?
(A) Nationalization of industries
(B) Increasing bureaucratic control
(C) Reviving sick industrial units and eliminating undue harassment
(D) Privatizing all state institutions